Sentences with phrase «use of payday loans»

While student debt is also an issue for millennials, their increased use of payday loans is making their financial situation much worse.

Lowering the cost of payday loans in Ontario recently may have made this form of borrowing marginally cheaper, however the increased use of payday loans among indebted consumers makes payday loans a leading contributor to consumer insolvencies in Ontario.

If you do have a problem with debt that leads you to frequent and multiple use of payday loans then it is important to speak to a professional bankruptcy trustee.

Corinaldi worked as director of external affairs at debt charity StepChange for four years, during which time he issued a number of statements warning against the use of payday loans.

If the results from these three questions depict anything, it is that we should not be so quick to jump to conclusions when it comes to the use of payday loans.

So we know that people use payday loans and that the payday loan industry will say well, it's a necessary evil, people in need of emergency funds they can't get a regular loan so why then is the use of payday loans by our clients such a bad thing?

Now that it's «cheaper» I predict we will see an increase, not a decrease, in the use of payday loans and that's not good, even at $ 15 per $ 100.

Doug H: So, to summarize what you said the use of payday loans among people already in debt is increasing, they owe more in payday loans than what they make in a month, a lot more and they're taking out larger loans than they were before.

With all of the people dealing with different types of debt, one of the most difficult of all to take care of involves the use of payday loans.

In truth, for most people, the use of payday loans are a symptom of a broader underlying financial crisis.

More than one in ten (11 %) insolvent senior debtors have an outstanding payday loan, and the use of payday loans by seniors continues to rise.

To see if this was a systemic problem for payday loan users in general, we commissioned Harris Poll to conduct a survey to determine to what extent payday loan borrowers in Ontario carried existing debt when taking out a payday loan and any changes to debt loads through the use of payday loans.

The use of payday loans among insolvent borrowers increased for the sixth consecutive year to 31 % of all Ontario insolvencies, up from 27 % in 2016.